The atmosphere at Davos this year was markedly different as world leaders gathered at the World Economic Forum, engaging in nuanced discussions that circled back to one crucial reality: the future of clean technology depends on genuine collaboration, not competition. This shift in tone comes at a critical moment, as global clean energy financing soared to an unprecedented $1.8 trillion in 2023, signalling the sector’s tremendous potential.

What began with modest installations of wind turbines and solar panels in the 1980s has evolved into a sophisticated ecosystem of innovations. Today’s clean tech landscape spans everything from advanced battery storage systems to green hydrogen production facilities. However, experience shows that capital alone–no matter how abundant–cannot drive progress without meaningful global cooperation. The sector’s true potential depends on robust international partnerships between nations, industries, and institutions.

Collaborative frameworks driving innovation

Turning this vision of global cooperation into tangible results demands well-structured frameworks and initiatives. This need becomes even more pressing given the IEA’s projection that 75% of future CO2 reductions will depend on technologies either in their infancy or yet to be developed. In response, powerful collaborative mechanisms have emerged across the globe.

The World Economic Forum’s Centre for Energy and Materials stands at the forefront of this collaborative movement. Through its ambitious initiatives such as Clean Power and Electrification and Energy and Industry Transition Intelligence, the Centre is reshaping how nations work together to solve our most pressing energy challenges.

What makes today’s international cooperation particularly exciting is how it’s delivering real results on the ground. Mission Innovation has moved beyond traditional R&D collaboration to create dynamic partnerships that are accelerating clean energy breakthroughs. Meanwhile, International Renewable Energy Agency’s (IRENA) work is proving that when nations share knowledge and standardise markets for clean technologies, costs drop and adoption soars. They’re creating practical pathways for countries to access and implement clean technologies more effectively.

Perhaps most encouraging is how the clean technology landscape is being transformed by new players. Emerging economies are stepping out of the shadows of technology recipients to become innovation leaders in their own right. Countries like Indonesia, Chile, Morocco, and Egypt are writing their own chapters in the clean tech story. India’s journey is particularly inspiring–from sharing its solar power expertise with African nations to fostering clean energy adoption across South Asia, it’s showing how nations can lift each other up while advancing their own clean energy ambitions.

Today’s collaborative efforts stand apart in both scope and ambition. When researchers in Europe share breakthroughs with counterparts in Asia or Africa, they’re not just transferring technology—they’re building foundations for local innovation hubs. When private investors back clean tech projects in developing nations, they’re not just seeking returns—they’re helping create sustainable economic models that can be replicated globally.

This collaborative approach is also transforming investment patterns, mobilising crucial private capital for clean tech projects in regions where funding has historically been scarce. By creating clear frameworks for technology transfer and financial support, these partnerships ensure that the clean energy revolution leaves no nation behind.

India’s clean tech journey: Charting the path forward

India’s journey from clean tech importer toward renewable energy powerhouse offers compelling evidence of what’s possible when international cooperation meets national ambition. As the world’s third largest producer of renewable energy, India has emerged as a leader in the clean energy transition. With renewable energy now comprising 46.3% of its total installed capacity–spanning solar, wind, hydroelectric, and biopower–the country has moved beyond merely following the global clean tech playbook to actively shaping it.

India’s drive toward manufacturing independence reflects this same ambitious thinking. Through its Production Linked Incentives scheme, the country has systematically transformed its position in the global supply chain, particularly in solar modules, batteries, and electrolyzer manufacturing. This comprehensive strategy combines import duties, goods and services tax structures, and direct incentives to foster domestic innovation while maintaining international collaboration.

Yet significant challenges loom on the horizon. China’s dominance in critical minerals processing–controlling 90% of global capacity–underscores the urgent need for supply chain diversification. India’s response through initiatives like its National Green Hydrogen Mission shows how countries can balance domestic manufacturing goals with international cooperation.

The clean technology revolution, while driven by international cooperation and government initiatives, also demands active participation from the private sector. Corporations, particularly those with global reach and expertise, have both the responsibility and capability to accelerate this transition. Consulting firms with their commitment to achieving 100% renewable energy, showcase how businesses can lead by example while helping others navigate the complex landscape of clean tech implementation. The convergence of policy frameworks, investment flows, and private sector innovation will eventually pave the way for a more equitable clean energy future.

Views of the author are personal and do not necessarily represent the website’s views.

The above article’s author Rohit Bhagwat heads ZS’s Pune office – the company’s largest in India. He specializes in analytics, consulting, technology, and operations within the healthcare industry. With expertise in delivering advanced analytics programs across R&D, commercial, and enterprise functions, Rohit focuses on cultivating strategic relationships through an emphasis on innovation, quality, and service. Rohit has an MBA from the Indian School of Business, Hyderabad, and a B.Tech in Electronics Engg. from IIT-BHU, Varanasi.